Roku (ROKU) is down nearly 10% since we entered the trade, and our silly put is now in the money. I am recommending we roll out one week and to a lower strike to buy time, reduce our risk and generate some more income.
Current Stock Price: $86.62
Cash in Hand: $0.54
- Buy to close the ROKU Jun Week Two (6/10) 89 Put for around $3
- Sell to open the ROKU Jun Monthly (6/17) 83 Put for around $3.40
- Set initial credit limit at $0.40, but adjust as needed to roll today
New Cash in Hand: $0.94